HSBC ranks Bancroft and Woodstock, Ontario as top location for home buyers

A new ranking from HSBC Bank has ranked some major markets in Canada to help Canadians get a sense of how much things should cost in each area and how much growth they can expect if they sell in the future.

Topping the list is Bancroft, Ontario with an average residential property cost of $292,733 and a 78 percent  3-year growth percentage. Woodstock/Ingersoll follow in second place and London/St. Thomas rank in third. The top 16 places are all in Ontario with Montreal coming in 17th.

Average home prices in the top ten areas

The bank determines its rankings by looking at the current average home price and the average price growth over the last few years in each area. The company then compared that with national averages and a few small-scale metrics like neighbourhood economics.

Overall, it seems like small towns in Ontario are where a lot of people are going to end up since the housing prices there are still within a semi-affordable margin. You can check out the full comparison here.

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